American Century Companies Inc buys $815,995,457 stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : American Century Companies Inc scooped up 2,965,210 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 16,528,164 shares of SYSCO Corporation which is valued at $815,995,457.SYSCO Corporation makes up approximately 0.95% of American Century Companies Inc’s portfolio.

SYSCO Corporation opened for trading at $48.91 and hit $49.49 on the upside on Friday, eventually ending the session at $49.37, with a gain of 1.02% or 0.5 points. The heightened volatility saw the trading volume jump to 41,07,714 shares. Company has a market cap of $27,821 M.

Other Hedge Funds, Including , Selway Asset Management added SYY to its portfolio by purchasing 11,400 company shares during the most recent quarter which is valued at $521,778. SYSCO Corporation makes up approx 0.35% of Selway Asset Management’s portfolio.Jnba Financial Advisors reduced its stake in SYY by selling 550 shares or 24.75% in the most recent quarter. The Hedge Fund company now holds 1,672 shares of SYY which is valued at $76,527. SYSCO Corporation makes up approx 0.03% of Jnba Financial Advisors’s portfolio.Montrusco Bolton Investments reduced its stake in SYY by selling 11,614 shares or 7.51% in the most recent quarter. The Hedge Fund company now holds 143,014 shares of SYY which is valued at $6,545,751. SYSCO Corporation makes up approx 0.51% of Montrusco Bolton Investments’s portfolio.Sigma Planning Corp reduced its stake in SYY by selling 2,070 shares or 5.43% in the most recent quarter. The Hedge Fund company now holds 36,037 shares of SYY which is valued at $1,649,413. SYSCO Corporation makes up approx 0.22% of Sigma Planning Corp’s portfolio.

On the company’s financial health, SYSCO Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.42. The company had revenue of $12002.00 million for the quarter, compared to analysts expectations of $11866.48 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on SYSCO Corporation. Argus Upgraded SYSCO Corporation on Feb 5, 2016 to ” Buy”, Price Target of the shares are set at $50.

Sysco Corporation (Sysco) along with its subsidiaries and divisions is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425000 customers including restaurants healthcare and educational facilities lodging establishments and other foodservice customers. Sysco provides food and related products to the foodservice or food-away-from-home industry. The Company has aggregated its operating companies into a number of segments of which only Broadline and SYGMA are the main segments. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA operating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations. The Company’s other segments include its specialty produce custom-cut meat and lodging industry products segments.

Leave a Reply

SYSCO Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on SYSCO Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.